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Under OfferFor rent: ROAFor sale: £1,300,000.00

*UNDER OFFER* 1-3 Folly Lane, St Albans, Herts AL3 5JU

Light industrial, Residential Land, Design & Build, Residential, Industrial, Other Property Types & Opportunities , 8235 Sq Ft
Property type: Light industrial, Residential Land, Design & Build, Residential, Industrial, Other Property Types & Opportunities
Tenure: Development Opportunity, Investment Opportunity, To Let, Under Offer, For Sale Freehold
Size: 8235 Sq Ft
Price: £1,300,000.00
Rent: ROA
Location: 1-3 Folly Lane, AL3 5JU
*UNDER OFFER* Potential development site. The freehold interest is offered for sale. The left hand light industrial unit is currently occupied on an informal basis with the rear light industrial building being currently occupied on a lease holding over. Vacant possession can be obtained by the landlords giving notice, and therefore the property can be sold with full vacant possession.
The two buildings have existing light industrial (B1) permitted use.
The site currently has two buildings situated on it being a single storey brick built light industrial unit to the left hand side and a single storey light industrial building to the rear. Both buildings are understood to have been constructed in the 1960’s. There is a surfaced yard used for loading and car parking to the front.

Planning permission was granted on 12th July 2016 for the demolition of the existing buildings and the erection of four, three bedroom houses. The planning application reference number is 5/2016/0177 and the application was decided under consultation. Plans of the existing buildings and the consented scheme together with all planning drawings, design and access statements can be obtained through the agents or through the St Albans City and District website

St Albans is a historic city with an affluent commuter location having a population of approximately 75,000 people and an above-average demographic profile. The city is particularly well located in terms of transport links, being positioned immediately to the north-east of the M1 / M25 interchange and having the A1(M) immediately to the east. The city is located on the main Thameslink railway line, giving fast and frequent services to central London and beyond with a direct service to St Pancras.

The property is located on Folly Lane close to its junction with Normandy Road and approximately ½ mile west of the prime shopping pitches of St Peters Street. The site is within St Albans Conservation Area and adjoins a commercial unit with the remainder of the surrounding properties being residential in nature. St Albans City Thameslink railway station is approximately 1 mile to the East.

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